How To Sell Bank Notes Online

Updated on May 30, 2011

What Are Bank Notes?

Bank notes are a paper currency issued by a recognized government. They are backed by that government. Just about every country has some form of bank note. Most governments have several different denominations of their bank notes. Bank notes are collected by people worldwide. They are bought and sold on a daily basis. The people who buy and sell bank notes are banks, collectors, and some other companies specializing in various currency.

Grade Your Bank Notes

Before you begin, you will need to purchase a bank note grading guide or have someone grade them for you. Bank notes can be purchased directly from a bank before they were ever released to the public. This is uncirculated currency. This is the highest designation. The lowest designation is good. You need to determine what designation your bank notes are before you can sell them or trade them.

Find Out The Current Value Of Your Bank Notes Online

Next, you should look up how much the current value of your bank notes. You can do this by contacting local currency (coin) shops through email and asking them or you can find an online price guide to get an idea. A bank note's value is based on its condition and scarcity. Because of this, older bank notes are generally more valuable.

Contact Potential Buyers

Then, you need to contact potential buyers. To start, contact local buyers online. You can email a local coin shop or collector that you know. You can also put an ad on newspaper or magazine websites devoted to bank note collecting. You can also put an ad on Craigslist.

Sell Your Bank Notes Online!

Compare the offers you received from local buyers to the offers you received from the Craigslist and newspaper/magazine ads. Take the offer that is the best. You should be able to work out some kind of arrangement with the buyer so that you will be able to send it by courier and they can pay you with paypal.

If You Must Meet In Person...

Under no circumstances allow any potential buyers to know where you live
or allow them to meet you in a private place. If you must meet in
person, do it in a very public place (preferably outside).